Growth at builders merchant up nearly 8% so far this year
The UK’s biggest builders merchant said revenue in the nine months to September remains up on the same time last year.
Travis Perkins said income during the period was 7.8% with revenue growth in the third quarter up 10.&%.
In a third quarter trading update this morning, it said it “saw some slowing of demand through the period in the smaller trade customer segment although demand from larger repair and maintenance contractors held up well”.
Travis Perkins said its specialists merchants “benefitted from their exposure to predominantly larger subcontractors across new build commercial and housing, industrial maintenance and infrastructure projects to deliver another robust performance during the quarter”.
The firm said the current market was “challenging” but said it expected to post a full year operating profit in the middle of market expectations which range between £304 and £340m.
In its interim results for the six months to June the firm said revenue was up 10% to £2.5bn although pre-tax profit was down 6% to £136.6m.